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Author Topic: Is the Bitcoin falling ? DDOS breaks almost every major Pool  (Read 3934 times)
walidzohair
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July 09, 2011, 12:24:52 PM
 #21

The only problem with this is that it won't work. You should read the tech paper.

That is why I said we should CHANGE the default protocol. And yes it affects the overall network computation power!

And as far as I understand from the technical paper. Bitcoin can be taken out if you can afford computation power larger than the sum of the network.

I am talking about the worst case scenario. Let us say three of the major pools have been taken over and hacked! then what! a faulty blocks can be introduced!

not just slowing the total network computation power due to DDoS. But the whole thing can be wiped out!

what I am saying is that we can convert the whole network to one large gigantic pool with all the miners working WITH each others. And the only things that can take this out is to block the BTC traffic all over the internet.

So everyone is working in cooperation Yet every one will be still competing for larger share. umm maybe extra digits can be introduced as 8 digits after decimal point might be not enough.

Away from how much hard effort to see this accomplished. but what will be the disadvantages of this suggestion ?
Bold red text is really not going to make your point any more valid, or your post any more readable.


My apologies but is it against the forum policies ?

otherwise i do nto think your post is relevant Smiley
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joepie91
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July 09, 2011, 12:44:59 PM
 #22

The only problem with this is that it won't work. You should read the tech paper.

That is why I said we should CHANGE the default protocol. And yes it affects the overall network computation power!

And as far as I understand from the technical paper. Bitcoin can be taken out if you can afford computation power larger than the sum of the network.

I am talking about the worst case scenario. Let us say three of the major pools have been taken over and hacked! then what! a faulty blocks can be introduced!

not just slowing the total network computation power due to DDoS. But the whole thing can be wiped out!

what I am saying is that we can convert the whole network to one large gigantic pool with all the miners working WITH each others. And the only things that can take this out is to block the BTC traffic all over the internet.

So everyone is working in cooperation Yet every one will be still competing for larger share. umm maybe extra digits can be introduced as 8 digits after decimal point might be not enough.

Away from how much hard effort to see this accomplished. but what will be the disadvantages of this suggestion ?
Bold red text is really not going to make your point any more valid, or your post any more readable.


My apologies but is it against the forum policies ?

otherwise i do nto think your post is relevant Smiley
I have no idea if it's against the forum policies, I'm just trying to make a point that it's extremely annoying and hard to read.

That something is not outright forbidden does not mean you should do it.

Like my post(s)? 12TSXLa5Tu6ag4PNYCwKKSiZsaSCpAjzpu Smiley
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I just can't wait for fall/winter. My furnace never generated money for me before. I'll keep mining until my furnace is more profitable.
bcearl
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July 09, 2011, 01:44:11 PM
 #23

Bitcoin without pools would be even harder to break. Pools are a threat, DDoSing pools is helping bitcoin against that threat.

Misspelling protects against dictionary attacks NOT
jackjack
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July 09, 2011, 01:52:46 PM
 #24

Bitcoin without pools would be even harder to break. Pools are a threat, DDoSing pools is helping bitcoin against that threat.
Aren't you going a little too far?

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Nescio
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July 09, 2011, 09:47:02 PM
 #25

I am talking about the worst case scenario. Let us say three of the major pools have been taken over and hacked! then what! a faulty blocks can be introduced!

not just slowing the total network computation power due to DDoS. But the whole thing can be wiped out!

That's not how it works, thankfully. You can grab all of the coin creation and prevent transactions from going through (until you get nuked from orbit), but you can't reverse most of the transactions (exponentially more difficult the further you want to go back) or steal people's balances because you don't have their private keys to sign transactions with. For other things you could do you also need control of the majority of the clients, which controlling all the pools in the world will not help with.
TraderTimm
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July 09, 2011, 10:04:16 PM
 #26

We'll end up learning our lesson if the major pools get DDoSed one day, simultaneously. The way things have been escalating, I wouldn't be too surprised if this happened.

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Nescio
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July 09, 2011, 11:44:54 PM
 #27

We'll end up learning our lesson if the major pools get DDoSed one day, simultaneously. The way things have been escalating, I wouldn't be too surprised if this happened.

That's only a problem if there are no smaller independent pools and individual miners left and a concerted attack is mounted in the form of a large attacking pool trying to subvert the blockchain, but this means a lot of investment and once the big pools return they might have done some work that will invalidate the bogus links in the chain anyway. In fact, if it comes down to a catastrophic event once they are back the big pools could decide to cooperate on fixing the blockchain (sort of like a Mt. Gox rollback Smiley).

The average botnet operator will gain more by simply participating (have their own pool if other big pools reject them).
bcearl
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July 10, 2011, 08:42:32 AM
 #28

Bitcoin without pools would be even harder to break. Pools are a threat, DDoSing pools is helping bitcoin against that threat.
Aren't you going a little too far?

I don't support DDoS. But its just nothing we have to worry about.

Even if mining pools are DDoSed, the people who actually have the mining hardware will be interested in continuing mining (because else their hardware is wasted). Even if the number of miners drops significantly, Bitcoin will be able to operate -- you just have to wait a certain time (depending on how much the hashrate drops) longer for confirmations. After difficulty recalculation, everything is like it should be again.

Misspelling protects against dictionary attacks NOT
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